At a press conference in Quezon City on Wednesday, November 5, businessman Antonio ‘Tony’ Tiu becomes emotional as he claims he was being blackmailed by some personalities from the government if he would not cooperate in the Senate investigation on various allegations against Vice President Jejomar Binay. Tiu also criticized Senator Alan Peter Cayetano for being harsh on him during the Senate inquiry into the controversies. Tiu reiterated he is not a dummy of VP Binay as implied by the Senate blue ribbon subcommittee.(MNS photo)
MANILA (Mabuhay) – AgriNurture Inc., the company owned by controversial businessman Tony Tiu, said three of its directors and two top executives have resigned.
In a disclosure to the stock exchange on Wednesday, the firm said directors James Sayre, Tai Chuan Lin and Edmund Zheng resigned “to pursue other business pursuits.”
AgriNurture’s president and chief executive Pablo Capati Jr., and chief financial officer Romeo Bato also submitted their resignations.
The company said Capati and Bato resigned “to focus on other professional and personal commitments.”
Last year, Tiu was accused of being Vice President Jejomar Binay’s dummy for the so-called “Hacienda Binay” in Rosario, Batangas.
Tiu is also facing tax evasion charges and has been penalized by the Security and Exchange Commission related to errors in financial reporting.
Trade of shares in Greenergy Holdings, Tiu’s holding company, is currently suspended at the Philippine Stock Exchange as the local stock market
also monitors the controversies surrounding Tiu.
Tiu has repeatedly denied being a dummy of the Binays. He earlier called the tax evasion cases, and the SEC fines as “harassment.”
In 2014, AgriNurture said its net loss attributable to equity holders reached P1.164 billion in 2014, significantly bigger than the P95 million net loss it posted in 2013.(MNS)